benefits enrollment guide 2018 - bank of america · evaluate your benefit options. review your...
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At Bank of America, we believe that employees are the foundation of our success
To support you during the moments that matter most, we offer a wide range of
benefits, programs and resources that are competitive, diverse and flexible to meet
your needs. It’s one of the most important things we do as a company, and part of
our commitment to making Bank of America a great place to work.
We offer a variety of health and insurance benefits to meet your needs
This enrollment guide is designed to help you understand the comprehensive
medical, prescription, dental and vision coverage available for you and your
family. You’ll also learn about the available life and disability insurance options,
including what’s provided automatically by the bank.
You’ll see that wellness is a key component of our medical plans, as we’re committed
to helping you learn more about your health and save money in the long run. You can
keep a credit toward your annual medical premium by completing two voluntary
wellness activities, and you’ll have access to personal health coaches and nurses to
help you improve your health, manage chronic conditions and more.
2018 Benefits | About this guide 1
Benefits that work for your life
Get ready to make your health and insurance benefit elections for 2018
This guide is for employees who earn less than $100,000 in Performance Year Cash Compensation (PYCC). See page 18 for details.
For more information about plans described in this guide, visit HR Connect > Benefits > Health > Medical plans > Resources.
If you and/or your family members have Medicare or will become eligible for Medicare
in the next 12 months, you may be eligible for a Medicare Part D plan that provides
prescription medication coverage. See page 22 for more information.
How to choose your health and insurance benefits
Evaluate EnrollCompare
Evaluate your benefit options. Review your coverage and carrier options using this guide and the resources provided to you on HR Connect > Benefits.
Compare your health care costs. Use the Medical Expense Estimator on My Benefits Resources to compare your 2018 medical plan options and estimate out-of-pocket costs.
Enroll online for your benefits. Enroll in your health and insurance benefits for 2018 online or by calling the Global HR Service Center. See page 17 for more information.
Important reminders• If you don’t do anything during your enrollment period, you will
have the coverage indicated on your Enrollment Worksheet, which in most cases is no coverage for 2018.
• If you decline coverage during your enrollment period, but need to enroll following a qualified status change, you may be eligible for prorated health care account contributions from the bank.
2018 Benefits | About this guide 2
About this guide
Review
2018 Benefits | Review 3
What to consider during your enrollment period
When choosing your health and insurance coverage for 2018, review the benefit options available to you and make the elections that are right for you and your family.
Medical, dental and vision questions
■Which medical plan will work best for you and
your family?
■Which medical carrier fits your needs?
■Do you want to enroll in dental or vision plans?
Insurance and disability question
■If something were to happen to you and your
income was lost, do you have enough life and
disability insurance to take care of your family?
Family care question
■Do you have a total household adjusted gross
income of $100,000 or less and expect to
have child care expenses that could be
reimbursed by Child Care Plus®?
Important reminder questions
■Do you need to add beneficiary designations
for your life insurance and Health Savings
Account (HSA), if applicable?
■Do you need to cover eligible family members
under your health or insurance benefits?
Remember, if you cover a child who is turning
26 in 2018, coverage under your plan will end
at the close of his or her birthday month.
■If the health care account that works with
your chosen medical plan allows employee
contributions, how much do you want
to contribute?Save up to $1,000!Complete the bank’s voluntary wellness activities and you can keep a $500 credit toward your annual medical plan premium. You’ll keep an additional $500 if your covered spouse or partner also completes theirs. If your benefits coverage begins after Jan. 1, we’ll prorate the credit based on when your medical plan coverage takes effect. See page 16 for details.
Have questions?
Financial counselors at the Benefits Education & Planning Center (BEPC) can help answer
questions you may have on the topics covered in
this guide.
Call 866.777.8187 Monday through Friday, 9 a.m.
to 8 p.m. Eastern (excluding certain holidays).
To help you compare your medical, dental and
vision plan choices, access the compare tool
available on My Benefits Resources (mybenefitsresources.bankofamerica.com).
What’s inside this guide
Medical 5
Health care accounts 9
Dental 11
Vision 12
Life and disability insurance 13
Family care and other benefits 15
Wellness 16
When and how to enroll 17
Important notes about your benefits 18
Helpful contact information 25
5
Table of contents
2018 Benefits | Table of contents 4
You have two medical choices to make during your enrollment period: your medical carrier and your medical plan
All our national medical carriers offer the same medical plans and are
high-quality options with similar services and networks. (We also offer
Kaiser Permanente as a carrier in select markets. Please refer to the
Compare Medical Plan Details feature on My Benefits Resources
for specific Kaiser plan information.)
Your medical premiums will be based on your pay tier, the plan
you choose, the number of people you cover, the carrier you
select, the ZIP code you live in and whether or not you complete
wellness activities or use tobacco.
We’ve designed our medical plans to meet the diverse needs of our employees
We offer medical plans that provide quality health care and
100% coverage for in-network preventive care. Each plan has
the predictability of an annual deductible and the security of an
out-of-pocket maximum. The medical plan you choose determines:
• The amount of coverage you receive
• When you pay for care. (For example, with the Comprehensive
PPO, you’ll pay more every pay period than you would in either
of the consumer-directed plans. With the consumer-directed
plans, you have lower per-pay-period costs and pay more when
you receive care.)
• The type of health care account(s) available to you
• Your prescription drug coverage
medical plan
medical carrier
Aetna
Comprehensive PPO plan
Consumer directed high
deductible plan
Consumer directed plan
Anthem
Kaiser Permanente (in select markets)
UnitedHealthcare
2018 Benefits | Medical 5
What comes out of my pay?
Annual premium
The annual cost to pay for medical coverage is
spread across the year, so you pay a portion of it
in each pay period on a pretax basis. Medical
premiums are based on your pay tier, the plan you
choose, the number of people you cover, the
carrier you select, the ZIP code you live in and
whether or not you’ve completed wellness
activities or use tobacco.
What will I pay when I begin receiving medical care?
Annual deductible
You won’t pay for in-network preventive care
defined by the U.S. Preventive Services Task
Force, such as your annual checkup. Confirm with
your carrier which services are considered
preventive. Generally, for all other covered care,
you’ll pay out-of-pocket until you reach your
annual deductible, at which point your medical
plan will start to pay for the majority of your
in-network services.
What will I pay after I meet my annual deductible?
Coinsurance
After you meet the annual deductible, generally,
you’ll continue to pay 20% of the cost for
in-network covered medical services until you
meet the out-of-pocket maximum. The plan
pays the rest.
What does it mean to stay in network?
In network vs. out of network
In-network providers have agreed to your carrier’s
negotiated rates. An out-of-network provider may
charge more than the carrier is willing to pay.
Because of this, you have an out-of-network
deductible that is higher than your in-network
deductible. Check with your carrier to be sure
doctors, labs, hospitals and specialists are in
network before receiving treatment.
What’s the most I’d have to pay out of my own pocket?
Out-of-pocket maximum
Each plan has a pre-determined out-of-pocket
maximum that’s the most you’d pay for covered
medical services in a calendar year. Once you
meet it, the plan pays the full cost of additional
covered expenses. Think of it as your safety net.
How is my annual premium determined?
PYCC
Your premiums for medical coverage are
determined by tiers based on your Performance
Year Cash Compensation (PYCC). See page 18
for more information.
Those pay tiers are:
• Less than $50,000 PYCC
• $50,000 to less than $100,000 PYCC
• $100,000 to less than $150,000 PYCC
• $150,000 to less than $250,000 PYCC
• $250,000 to less than $500,000 PYCC
• $500,000 PYCC or more
2018 Benefits | Medical 6
2018 Benefits | Medical 7
Comprehensive PPO or Consumer Directed Plan
Consumer Directed High Deductible Plan*
Here’s how deductibles and out-of-pocket maximums for employees with family coverage compare across plans
Annual deductible/coinsurance
• For any family member whose eligible out-of-pocket expenses meet his or her individual annual deductible, coinsurance begins for that person.
• Coinsurance begins for everyone covered by the plan once the eligible out-of-pocket expenses of two people combine to meet the family deductible.
Out-of-pocket maximum
100% of eligible costs are covered:
• For any family member who reaches his or her individual out-of-pocket maximum
• For everyone on the plan once two people combine to reach the out-of-pocket maximum
Annual deductible/coinsurance
• If anyone covered on the plan meets the family annual deductible, or the eligible out-of-pocket expenses of two or more family members combine to reach it, coinsurance begins for everyone on the plan.
Out-of-pocket maximum
• The in-network, out-of-pocket maximum for this plan is $8,000 per family.
• If one person covered under the plan reaches the individual out-of-pocket maximum of $7,350, 100% of additional costs for eligible services are covered for that person.
• If another family member adds $650 (for a total of $8,000) in eligible out-of-pocket expenses, 100% of additional costs for covered services for everyone on the plan are covered.
* Kaiser California plans have a different deductible and out-of-pocket maximum for employees choosing family coverage. Please contact Kaiser for further information.
During your benefits enrollment period, you can add a spouse, partner, adult dependent or eligible child to your coverage
If you add an adult to your coverage, you’ll be required to verify his or her eligibility. You’ll receive a Dependent Verification letter at your address on file with more information about deadlines and the documents required to verify the eligibility of your adult family member.
Some of your benefits, including when bank contributions to your health care account are available, may be affected if there’s a delay verifying the eligibility of your adult family member. If you don’t provide all the required documentation by the deadline provided to you, the individual will be dropped from your health and insurance coverage. This means the individual will no longer be covered under the plans you elected during enrollment.
TIPDon’t forget to take a look at the Medical Expense Estimator on My Benefits Resources to compare your medical plan options, premiums and estimated out-of-pocket costs across the plans and carriers.
Important remindersIf you get married, have a baby, get a divorce or experience another event that is considered a qualified status change, you must notify the Global HR Service Center within 31 calendar days of the date of the change. For more information about who’s eligible for coverage under the plans, see page 19.
Your children are eligible to be covered under your medical, dental and vision plans until age 26. Note: If your child will turn 26 in 2018 and is covered under your plan, his or her coverage will end on the last day of his or her birthday month.
Comprehensive PPO Plan Consumer Directed Plan Consumer Directed High Deductible Plan
Annual deductible
In network, you pay up to $500 per individual or $1,000 per family.
Out of network, you pay up to $1,000 per individual or $2,000 per family.
In network, you pay up to $1,200 per individual or $2,400 per family.
Out of network, you pay up to $2,400 per individual or $4,800 per family.
In network, you pay up to $2,250 per individual or $4,500 per family.
Out of network, you pay up to $4,500 per individual or $9,000 per family.
Coinsurance
In network, you pay 20%.
Out of network, you pay 40%.
In network, you pay 20%.
Out of network, you pay 40%.
In network, you pay 20%.
Out of network, you pay 40%.
Out-of-pocket maximum
In network, you will pay no more than $2,000 per individual or $4,000 per family.
Out of network, you will pay no more than $4,000 per individual or $8,000 per family.
In network, you will pay no more than $3,500 per individual or $7,000 per family.
Out of network, you will pay no more than $7,000 per individual or $14,000 per family.
In network, you will pay no more than $4,000 per employee only, $7,350 per individual or up to $8,000 per family.
Out of network, you will pay no more than $8,000 per employee only or $16,000 per family.
Preventive services
In network, you pay $0, according to government guidelines.
Out of network, you pay the full negotiated rate until you meet the deductible, then you pay coinsurance.
In network, you pay $0, according to government guidelines.
Out of network, you pay the full negotiated rate until you meet the deductible, then you pay coinsurance.
In network, you pay $0, according to government guidelines.
Out of network, you pay the full negotiated rate until you meet the deductible, then you pay coinsurance.
Office visits
In network, you pay a $15 copayment for primary care and a $25 copayment for a specialist visit.
Out of network, you pay the full negotiated rate until you meet the annual deductible, then you pay coinsurance.
You pay the full negotiated rate until you meet the annual deductible, then you pay coinsurance.
You pay the full negotiated rate until you meet the annual deductible, then you pay coinsurance.
Prescription medication at retail
(30-day supply)
In network, you pay Generic: $5 copayment Preferred brand: $25 copayment Non-preferred brand: $50 copayment
Out of network, you pay 40% coinsurance.
In network, you pay Generic: $5 copayment Preferred brand: 30% coinsurance ($100 max) Non-preferred brand: 45% coinsurance ($150 max)
Out of network, you pay 40% coinsurance.
In-network preventive medication: You pay 20% coinsurance prior to reaching your deductible.In-network non-preventive medication: You pay the full negotiated price until you meet the annual deductible, then you pay 20% coinsurance.Out-of-network medication: You pay 40% coinsurance.
Health care account(s)(More details on page 10)
Health Flexible Spending Account (Health FSA) Health Reimbursement Arrangement (HRA) Health Flexible Spending Account (Health FSA)
Health Savings Account (HSA)Limited Purpose Flexible Spending Account (Limited Purpose FSA)
2018 Benefits | Medical 8
It pays to stay in network!During your benefits enrollment period, carefully consider your medical plan elections and ensure your preferred providers are in network to avoid additional costs later. Find out if your doctors are in network across the carriers by going to My Benefits Resources and using the Find Doctors and Facilities link available on the medical and dental election pages.
Health care accounts can help offset your out-of-pocket medical expenses, such as copayments, prescription medications, eyeglasses and lab work
The amount the bank will contribute to your health care account is based on your
PYCC (see page 18) and the family members you cover. Depending on the type
of health care account that is paired with your medical plan, you and the
bank may be able to contribute to the account.
If you remain eligible, any health care account contributions you
receive from the bank will not change in 2018, even if you have a
qualified status change that changes the number of people you
cover under a medical plan.
NoteBe aware that the IRS prohibits you from making or receiving contributions to an HSA while enrolled in Medicare or a Medicare Advantage plan. While contributions to an HSA aren’t allowed once enrolled in Medicare, you can still use any existing HSA balance to pay for eligible health care expenses now or in future years.
2018 Benefits | Health care accounts 9
TIPIf you have selected a Consumer Directed medical plan with the Health Reimbursement Arrangement (HRA), remember that only your eligible expenses and those of your dependents who are also covered under the same Bank of America medical plan are eligible for reimbursement from the HRA.
Health Flexible Spending Account (Health FSA) Health Reimbursement Arrangement (HRA)
Health Savings Account (HSA) Limited Purpose Flexible Spending Account (Limited Purpose FSA)
Which plan(s) is this account available for?
Comprehensive PPOConsumer Directed Plan
You don’t need to be enrolled in a medical plan in order to contribute to a Health FSA.
Consumer Directed Plan Consumer Directed High Deductible Plan Consumer Directed High Deductible Plan
What would I use this account for?
Eligible health care expenses, including dental, vision and prescription medication expenses
Eligible health care expenses, including dental, vision and prescription medication expenses
To save for future health care expenses, but also to pay for eligible health care expenses, including dental, vision and prescription medication expenses
This health care account is only available if you have an HSA, and you can only use it for eligible vision and dental expenses.
What is the maximum amount that the bank and I combined can contribute to this account?
$2,650, the IRS pretax contribution limit Employee contributions may not be made to an HRA.
$3,450 Employee-only coverage$6,900 Family coverageIf you’ll be at least 55 years old in 2018, you can make an additional $1,000 catch-up contribution.
$2,650, the IRS pretax contribution limit
What does the company contribute?
The bank does not contribute to this account. PYCC is less than $50K$500 Employee-only coverage$750 Employee plus spouse/partner OR
Employee plus child(ren) coverage$1,000 Family coverage
PYCC is $50K to less than $100K$400 Employee-only coverage$600 Employee plus spouse/partner OR
Employee plus child(ren) coverage$800 Family coverage
PYCC is less than $50K$500 Employee-only coverage$750 Employee plus spouse/partner OR
Employee plus child(ren) coverage$1,000 Family coverage
PYCC is $50K to less than $100K$400 Employee-only coverage$600 Employee plus spouse/partner OR
Employee plus child(ren) coverage$800 Family coverage
The bank does not contribute to this account.
When are the funds available?
Your entire contribution amount is available at the beginning of the year.
The entire bank contribution amount is available at the beginning of the year.
Your contribution amount is available as it comes out of your paycheck each pay period — so your entire contribution amount is not available at the beginning of the year.
The entire bank contribution is available at the beginning of the year.
Your entire contribution amount is available at the beginning of the year.
What happens if I don’t use the money during the year?
Up to $500 in unused funds will roll over automatically to your 2019 Health FSA.
All unused funds will automatically roll over to your 2019 HRA, and you will generally have access to the funds as long as you stay enrolled in a medical plan that works with the HRA. Please note that if you leave the bank with a balance and have not met the Rule of 60, it will be forfeited. See page 19 for more information.
All unused funds will remain in your HSA (which is available to you after 2018). Also, if you have more than $1,000 in your HSA, you can invest it, and any earnings are generally tax free. You can take HSA funds with you when you leave the company or retire.
Up to $500 in unused funds will roll over automatically to pay for eligible expenses in the following year.
2018 Benefits | Health care accounts 10
MetLife is the carrier for our Dental PPO Plan
Visit metlife.com/mybenefits to see if your dentist is in network for the MetLife Dental PPO Plan.
In select markets, the Aetna Dental DMO Plan is available. Visit aetna.com/bankofamerica to check if your dentist is in the Aetna DMO network. If you choose this plan, your primary care dentist must be in the Aetna DMO network and accepting new DMO patients in order for you to receive any coverage. Be sure to confirm this before you elect this plan.
Out-of-network coverage
A dentist who is “out of network” hasn’t agreed to negotiated rates. The MetLife Dental PPO Plan pays benefits based on the usual and customary charge for a particular service. If the out-of-network provider charges more, you’ll be responsible for paying the amount that exceeds the usual and customary limit plus the applicable coinsurance and deductible. Aetna DMO does not have out-of-network coverage; therefore, services received from a provider who is not in the Aetna DMO network will not be covered.
* The coverage and lifetime maximum for implants and adult orthodontics apply only to those services or the placement of braces that will occur on or after Jan. 1, 2018. Treatment that began before this time will be subject to the original terms and conditions.
MetLife Dental PPO (in network) Aetna DMO (select markets, in network)
General dental expenses
Annual deductible $50 individual, $150 family The deductible is waived for preventive/diagnostic care and applies to basic and major expenses.Annual maximum coverage per person (excludes orthodontia and preventive care services) $2,000Lifetime maximum for orthodontia* (covered adults and children starting treatment before age 20) $2,000Office visit copayment None
Annual deductible None
Annual maximum coverage per person (excludes orthodontia) There is no annual maximum.
Lifetime maximum for orthodontia* (covered adults and children starting treatment before age 20) 24 months active treatment plus 24 months retention per lifetimeOffice visit copayment $5 per visit
Preventive care
Exams Plan pays 100% of covered services; services do not count toward annual maximum. Limited to two routine visits and two problem-focused visits per calendar year.Cleaning Plan pays 100% of covered services; services do not count toward annual maximum. Limited to two visits per calendar year.Dental X-rays Plan pays 100% of covered X-rays; services do not count toward annual maximum. Limited to one set of full mouth series every five years, and two sets of bitewing X-rays per calendar year for children and one set per calendar year for adults.
Exams Plan pays 100% of covered services, limited to four visits per calendar year.Cleaning Plan pays 100% of covered services, limited to two visits per calendar year.Dental X-rays Plan pays 100% of covered X-rays; services do not count toward the annual maximum. Limited to one set of full mouth series every five years, and two sets of bitewing X-rays per calendar year for children and one set per calendar year for adults.
Services Amalgam (silver) fillings You pay 20% of covered services.Composite fillings You pay 20% of covered services; limitations may apply.Extractions You pay 20% of covered services.Crowns, Dentures & Bridges You pay 50% of covered services; each individual service is limited to one time, per person, every seven years.Implants* You pay 50% of covered services.Oral surgery You pay 20% of covered services.Orthodontia* (adults and children) You pay 50% of covered services.
Amalgam (silver) fillings You pay 20% of covered services.Composite fillings You pay 20% of covered services; limitations may apply.Extractions You pay 20% of covered services; uncomplicated, non-bony impactions.Crowns, Dentures & Bridges You pay 50% of covered services; crowns & dentures limited to initial placement and replacements for appliances that are seven years old or more; bridges limited to initial placement only. Replacements for bridge appliances that are seven years old or more are considered.Implants* You pay 50% of covered services.Oral surgery You pay 20% of covered services for basic surgery; 50% of covered major surgery.Orthodontia* (adults and children) You pay 50% of covered services.
2018 Benefits | Dental 11
TIPThose who have Aetna as their medical carrier automatically have access at no cost to the Aetna Vision Discount Program as an alternative to the vision plan under Aetna or VSP. This program offers discounts for routine eye exams, eyeglasses, LASIK surgery, contact lenses and other eye care accessories. For more information, call Aetna at 877.444.1012 or refer to the 2016 Summary Plan Description (SPD) and subsequent Summaries of Material Modifications (SMMs) on HR Connect > Benefits > Health > Medical plans > Resources.
We offer two options for vision coverage: Aetna and VSP
Visit aetna.com/bankofamerica or vsp.com/bankofamerica to see if your eye care provider is in network.
Aetna VSP
In network Out of network In network Out of network
Routine vision exams (once per calendar year)
$10 copayment Plan pays a reimbursement, up to $40.
$10 copayment Plan pays a reimbursement, up to $45.
Eyeglasses Single vision lenses
(once per calendar year)Plan pays 100% of covered services, limited to standard uncoated plastic lenses.
Plan pays a reimbursement, up to $40.
Plan pays 100% of covered services. Plan pays a reimbursement, up to $40.
Bifocal lenses (once per calendar year)
Plan pays 100% of covered services for standard uncoated plastic lenses.
Plan pays a reimbursement, up to $60.
Plan pays 100% of covered services for lined bifocals.
Plan pays a reimbursement, up to $60.
Frame allowance (once every other calendar year)
Plan provides a $130 frame allowance, 20% discount thereafter.
Plan pays a reimbursement, up to $50.
Plan provides a $130 frame allowance ($150 for select brands), 20% discount thereafter; $70 allowance at Costco and Walmart.
Plan pays a reimbursement, up to $54.
Contact lenses Standard lens fit and follow-up (once per calendar year)
$0 copayment Plan pays a reimbursement, up to $40.
$30 copayment Cost is included in $125 contact lens allowance.
Premium contact fit and follow-up (once per calendar year)
Plan provides up to a $55 allowance, 10% discount thereafter.
Not covered $30 copayment Cost is included in $125 contact lens allowance.
Medically necessary prescription lenses for specific eye conditions that would prohibit the use of glasses (once per calendar year; prior approval is needed)
Plan pays 100% of covered services. Plan pays a reimbursement, up to $210.
Plan pays 100% of covered services. Plan pays a reimbursement, up to $210.
Elective prescription lenses (once per calendar year)
Plan provides a $125 allowance in lieu of eyeglasses; a 15% discount is applied to conventional contacts over the $125 allowance.
Plan provides a $125 allowance in lieu of eyeglasses.
Plan provides a $125 allowance in lieu of eyeglasses.
Plan provides a $125 allowance in lieu of eyeglasses.
2018 Benefits | Vision 12
Associate life insurance
Short- and long-term disability insurance
Business travel accident insurance
Our company-paid associate life insurance is provided by MetLife.
Annual base pay (or ABBR) x 1Rounded up to the next $1,000, up to a maximum of $2 millionSee information about ABBR on page 18.
The company provides you with: • Short-term disability benefits for up to 26 weeks
from the date of your disability after you’ve worked one continuous year
• Long-term disability benefits if you are unable to work for an extended period of time due to a qualifying disability due to a sickness or as a result of an accidental injury
Short-term disability (STD)
100% / 70% weekly base pay1 (or ABBR)
One week notification period 100% for eight weeks (weeks 2–9) 70% for up to 17 additional weeks (weeks 10–26)
Long-term disability (LTD)
50% weekly base pay2 (or ABBR)
For full-time employees only. Part-time employees can purchase LTD coverage during their enrollment period on My Benefits Resources.
Business travel accident insurance protects you in the event of death or serious covered injury caused by an accident that occurs while traveling on business for the bank. Everyday commuting is excluded.
Annual base pay x 5Rounded up to the next $1,000, up to a maximum of $3 million
For family members who travel with you on an authorized trip or relocation, we provide:
$150,000 coverage for your spouse or partner
$50,000 coverage for each child
Life and disability insurance can provide income protection for you and your familyCore coverage: Bank of America provides these insurance benefits automatically at no cost to you.
Important considerationAsk yourself how much your family would need if you became unable to work due to an injury or disability. You may want to consider purchasing additional supplemental life and/or disability insurance. You can always call the BEPC to help you understand what you may need based on your situation. See page 4 for contact information.
TIPDuring your benefits enrollment period, ensure you’ve designated a beneficiary for all your insurance benefits.
1 Or current compensation2 Or current compensation prior to the date your LTD benefits
payments begin. See page 20 for more information. 2018 Benefits | Insurance options 13
Supplemental coverage: You can elect to purchase these additional insurance benefits for you and your family during your benefits enrollment period.
Long-term disability (LTD) insurance
You may elect to purchase additional LTD coverage on top of the LTD coverage provided by the bank on a post-tax basis, up to a maximum combined coverage amount of $360,000 per year ($30,000 a month). The premiums will be calculated based on:
60% annual base pay* (or ABBR)
60% eligible compensation(annual base pay* + eligible bonus) Note: ABBR employees are not eligible for the 60% eligible compensation option.
50% annual base pay* (part-time employees)
The amount of benefits you would receive while on LTD is based on your election and current compensation prior to the date your LTD benefit payments begin.
Accidental death and dismemberment (AD&D) insurance
You may elect additional financial protection in the event of a serious accidental injury or death on a pretax basis.
Eligible compensation x 1 – 8 (annual base pay + eligible bonus) or ABBR
up to a maximum of $3 million
Family accidental death and dismemberment (AD&D) insurance
You may also elect to purchase family AD&D coverage for your spouse or partner and children, so long as they are under age 65, not full-time military and more than seven days old. You pay for this coverage on a pretax basis.
You must have employee AD&D coverage to elect coverage for your dependents.
Spouse or partner
60% of your coverage amount, up to $600,000
Each child
20% of your coverage amount, up to $50,000
Associate supplemental life insurance
You may elect to purchase associate supplemental life insurance on a post-tax basis.
Eligible compensation x 1 – 8 (annual base pay + eligible bonus) or ABBR
Rounded up to the next $1,000, up to a maximum of $3 million
A Statement of Health may be required. See page 20 for more information.
Dependent life insurance
Dependent life insurance is paid for on a post-tax basis and assists you with the additional expenses you might have if your spouse or partner or child dies. You need to decide which coverage level, if any, is right for you.
A Statement of Health may be required. See page 20 for more information.
Spouse or partner life insurance Coverage options available:
$10,000$25,000$50,000
$75,000$100,000
$125,000 $150,000
Child life insurance Coverage options available:
$5,000/child$10,000/child
$15,000/child$20,000/child
$25,000/child
NoteEligible bonus does not include cash incentives, bonuses, relocation payments or similar compensation paid to employees from a non-U.S. payroll.
*Or current compensation prior to the date your LTD benefit payments begin. See page 20 for more information. 2018 Benefits | Insurance options 14
Benefits What we offer Who’s eligible Actions you can take
Dependent Care Flexible Spending Account (Dependent Care FSA)
• You can use pretax dollars to pay for eligible dependent care expenses, including:
– Adult day care centers
– Babysitters and nannies
– Summer day camps
• You can use this account for dependent care expenses incurred so you and your spouse or partner can work, or so your spouse or partner can attend school full time. If your spouse or partner stays home full time, you are not eligible for the tax benefit.
• Dependent Care FSA participants have the option of paying for eligible dependent care expenses that have already been incurred with a debit card, instead of paying out of pocket and filing for reimbursement.
• Employees with children under age 13 and anyone who is a dependent under IRS rules, or who is mentally or physically incapable of taking care of himself or herself are eligible.
• Employees in New Jersey and Pennsylvania can’t make pretax contributions, per state regulations.
• Employees in Puerto Rico, Guam and the U.S. Virgin Islands are not eligible.
• Employees scheduled to work less than 20 hours per week are not eligible.
• Contribute up to $5,000 per year to the account (or $2,500 if you are married and filing separate tax returns).
• Use your health account debit card to pay for eligible dependent care expenses at time of service. Or, opt to pay out-of-pocket and submit receipts online, via the Bank of America Online Portal, for reimbursement. Remember to keep your receipts regardless of how you choose to pay, in case you need to verify expense eligibility later.
• Keep track of your expenses through the year. Back-up care, child care reimbursements and Dependent Care FSA contributions in excess of $5,000 are considered taxable income.
Purchased time off (PTO)
• You may purchase time off from work above your annual vacation allotment.
• You can pay for a minimum of four whole hours and a maximum of your weekly scheduled hours (up to 40).
• All U.S.-based employees who are scheduled to work at least 20 hours per week, except those in bands 0–3, commissioned employees or employees working in Puerto Rico are eligible.
• Receive permission from your manager before you purchase time off.
• If your benefits coverage starts Jan. 1, 2018, you can purchase time off from work. If your coverage starts later, you can purchase time off during the next Annual Benefits Enrollment.
Prepaid Legal • For $14.50 per month, you have access to experienced attorneys for many personal legal services and unlimited advice through Hyatt Legal plans. Advice is available through the plan for:
– Wills
– Real estate matters
• Most network attorney fees are covered by the plan.
• Active, U.S.-based full- and part-time employees are eligible.
• Employees scheduled to work less than 20 hours per week are not eligible.
• You are only able to enroll in Prepaid Legal during your enrollment period and must remain in the plan for the calendar year.
We offer several family care and other benefit options for you and your family
Familiarize yourself with what’s available and the elections you can make during your benefits enrollment period.
Do you have child care expenses?If your total household adjusted gross income, as measured on your most recent federal tax return, is $100,000 or less, you may be eligible for child care reimbursements (up to $240 per month, per child) through Child Care Plus®. If you are eligible, you may enroll in Child Care Plus for 2018 during your benefits enrollment period or at any time throughout the year. You will be required to provide documentation validating your household income as well as your child’s eligibility. Information on the child care provider will be required when a request for reimbursement is made.
– Before- and after-school programs
– Child day care
– Small claims
– Family matters
2018 Benefits | Family care 15
Learn about the two wellness activities and how the $500 credit works.
When you’re ready to complete your wellness activities, log on to
My Benefits Resources and select the Wellness tab.
The results of the health screening and health questionnaire
won’t affect your per-pay-period costs, coverage or eligibility.
Bank of America will not have access to your individual results.
Focusing on wellness is an investment in your health, which can save you money in the long run
When you’re in good health and feel well, you can be your best at home and at work.
To help you better understand your health, take advantage of the voluntary wellness
activities — a health screening and health questionnaire. You’ll get to know your
numbers, and keep a $500 credit toward your annual medical plan premium (or a
$1,000 credit if your covered spouse or partner completes theirs as well).1
Once you know about your health, you can take advantage of the benefits and
programs available to support your wellness. You have access to:
• Free one-on-one health coach sessions
• Wellness challenges with your teammates
• Programs that can help you quit using tobacco
• A hypertension management program to help you manage your blood pressure2
2. Complete your health questionnaireThe online questionnaire takes just a few minutes and
measures your overall health and lifestyle risks.
1. Complete your health screening It includes height, weight, waist, blood pressure and
total cholesterol measurements.
$500 + $500 = $1,000You complete and submit both wellness activities
Your spouse or partner completes and submits both wellness activities
Total credit to your annual medical plan premium
1 If your benefits coverage begins after Jan. 1, we’ll prorate the credit based on when your medical plan coverage takes effect. If you and your spouse or partner choose not to complete the wellness activities, your per-pay-period costs for medical plan coverage will go up by about $28 per adult.
2 Only individuals whose blood pressure reads above the normal range when tested during the health screening will be sent information about joining the program.
Important reminderYou have approximately 60 days from when your medical plan coverage becomes effective to complete your wellness activities. You can find your exact wellness activities deadline when you enroll in your benefits on My Benefits Resources. Your health and screening results and your health questionnaire must be submitted by the deadline to be considered complete.
2018 Benefits | Wellness 16
2018 Benefits | Enrollment 17
Or call the Global HR Service Center at 800.556.6044 to enrollWhen you’re logged on to the bank’s network:
1. Log on to My Benefits Resources using your standard ID and password.
2. From the Home tab, click Enroll in your benefits.
3. When you’re finished, confirm your choices by clicking Complete Enrollment. Your elections
will not be saved unless you complete this step. You will see a Confirmation Statement,
which you should print for your records.
If you’re not logged on to the bank’s network:
1. Log on to mybenefitsresources.bankofamerica.com using your Person Number and
password. If you don’t know your Person Number, you can use the Person Number Lookup
tool on Flagscape.
2. From the Home tab, click Enroll in your benefits.
3. When you’re finished, confirm your choices by clicking Complete Enrollment. Your elections
will not be saved unless you complete this step. You will see a Confirmation Statement, which
you should print for your records.
Representatives are available:
Monday through Friday (excluding certain holidays),
8 a.m. to 8 p.m. Eastern. Have your enrollment elections
ready when you call and enter your Person Number.
Once authenticated, say “Health and Insurance”
to speak to a Global HR Service Center representative,
who will take your benefit elections and validate your
dependent information.
Special service phone numbers:
• Hearing-impaired access: Dial 711, then call
800.556.6044.
• Overseas access: Dial your country’s toll-free
AT&T USADirect® access number, then enter
800.556.6044. In the U.S., call 800.331.1140 to obtain AT&T USADirect access numbers. From
anywhere in the world, access numbers are
available online at att.com/traveler or from
your local operator.
The fastest and easiest way to enroll is online, through My Benefits Resources
TIPIf you want to enroll anywhere, anytime from your smartphone or tablet, follow the log in instructions for those not logged on to the bank network.
For more information about plans described in this guide, visit the Medical plan details section on HR Connect > Benefits > Health > Medical plans > Resources.
Compensation Performance Year Cash Compensation (PYCC)If you were newly hired by the bank or became benefits-eligible for the first time after June 30, 2017, your performance year cash compensation (PYCC) for 2018 is your base salary as of your date of hire, or the date you became benefits-eligible.
If you rejoined the bank after June 30, 2017:
• If you were rehired within 180 days of leaving the bank, your previous PYCC amount will be used again.
• If you were rehired more than 180 days after leaving the bank, your PYCC is your base salary as of your date of rehire.
Your PYCC is used to determine available medical plans and your medical premium costs. This amount is also used to determine how much the bank will contribute to your health care account.
Any changes to your base pay in 2017 or 2018 will not affect the PYCC amount used to determine your pay tier.
Annual Benefits Base Rate (ABBR)For employees in all lines of business including Consumer Operations: ABBR is based on your annual base salary as of Dec. 31, 2016, draw paid in 2016 and any benefits-eligible cash incentives, which include most commission pay and annual bonus earned for 2016 and paid before July 2017.
For employees in the GWIM line of business: ABBR is based on your benefits-eligible compensation earned in 2016, plus any benefits-eligible cash incentives, which include most commission pay and annual incentives earned for 2016 and paid before July 2017.
Benefits-eligible cash incentives do not include cash incentives, bonuses, relocation payments or similar compensation paid to employees from a non-U.S. payroll.
Find your 2018 PYCC or ABBR1. Log on to My Benefits Resources using your Person Number
and the password you created for the site.
2. Click Your Profile on the top right-hand corner of the screen and select Personal Information from the drop-down list and then select the Personal Details tab.
Any changes to your annual base pay after Dec. 31, 2016 will not change the PYCC amount.
For some commission-based employees, we calculate an ABBR, which is used as your PYCC to determine available medical plans, your medical premium costs and how much the bank will contribute
to your health care account.
Eligible bonus amountFor associate supplemental life, AD&D and LTD insurance coverage amounts for 2018, your eligible bonus amount consists of any performance-based, benefits-eligible cash incentives and special equity awards earned for 2016 and paid by June 30, 2017. Your eligible bonus amount remains fixed for the plan year. Eligible bonus does not include cash incentives, bonuses, relocation payments or
similar compensation paid to employees from a non-U.S. payroll.
WellnessHealth screening and health questionnaireIf you are pregnant, or it is medically inadvisable or unreasonably difficult for you to participate in the health screening and/or health questionnaire based on a medical condition, you may submit a Health Care Provider Medical Waiver Form (2018 Wellness Program) signed by your health care provider in place of completing one or both steps of the wellness activities. Your physician will indicate which activities the waiver covers. If your waiver doesn’t cover both steps of the wellness activities, you will still need to complete the step that is not covered by the deadline in order to maintain the wellness credit. The form is available on My Benefits Resources > Wellness tab > Quick Links.
Tobacco users pay moreFor 2018, adults who have used tobacco in the last 12 months and are covered under Bank of America medical plans will pay a tobacco-user rate for their coverage. This rate is $900 more annually than the rate for adults who don’t use tobacco.
To qualify for the lower rate, the covered adult must certify during his or her enrollment period that he or she has not used tobacco products during the prior 12 months, including, but not limited to: cigarettes, cigars, pipes, chewing tobacco, snuff, dip and loose tobacco smoked by pipe.
During your enrollment period, you’ll be asked to provide your tobacco-user status separately from the tobacco-user status of your spouse or partner.
Note for medical coverage only: If you or your covered spouse or partner currently use tobacco products but intend to quit in 2018, you must indicate this when you enroll and you will not pay the higher tobacco-user rate. You will be contacted by your medical carrier about the tobacco cessation programs and resources available. The tobacco-user rate will still apply to associate supplemental life insurance or life insurance premiums for your spouse or partner.
If you or your covered spouse or partner or other adult dependent uses tobacco and is unable to meet the non-tobacco-user standard, you may still qualify for the lower non-tobacco-user medical rates. Contact the Global HR Service Center to discuss an alternative standard that will provide the same non-tobacco-user medical rates in light of your health status.
You must contact the Global HR Service Center and complete
certain steps prior to the end of your benefits enrollment period.
Health care accountsDepending on your enrollment choices, you may receive a Visa® debit card for your health care account.
Bank contributions Your PYCC, the plan and the coverage level you elect are used to determine how much the bank will contribute to your health care account.
Eligible dependents Eligible dependents for purposes of the HRA, Health FSA and Limited Purpose FSA include the participant’s spouse; birth, adopted or placed-for-adoption, step and foster children under the age of 26; and dependents that you claim (or you could have claimed) on your tax return.
However, per IRS requirements, the definition of an eligible dependent under an HSA only includes your spouse and family members whom you can claim as dependents on your federal income tax return. If you are uncertain if a child or other individual qualifies as your eligible dependent, call the Global HR Service Center.
If you have selected the Consumer Directed medical plan with the HRA, you may only submit claims for reimbursement from your HRA for yourself and those eligible dependents currently covered under your Bank of America medical plan, per IRS rules.
Important notes about your benefits
2018 Benefits | Important notes 18
Maintaining access to your HRA balance
If you have an existing HRA, you can maintain access to any balance
in that account by enrolling in an HRA-eligible medical plan and
remaining employed by the bank. If you’re still employed by the bank
and choose a plan that’s not HRA-eligible or choose not to enroll in a
medical plan, your HRA balance will continue to roll over. However,
the balance won’t be accessible until you re-enroll in an HRA-eligible
medical plan or leave the bank after meeting the Rule of 60.
HRA-eligible plans generally include the Comprehensive PPO plan
and the Consumer Directed plan. For more information, refer to the
2016 Summary Plan Description (SPD) and subsequent Summaries
of Material Modifications (SMMs) on HR Connect > Benefits > Health > Medical plans > Resources.
Tax considerations
Some circumstances could result in you being taxed on all or part of
the contribution to your health care account, including debit card
transactions, so be sure to keep receipts and documentation for
health care account purchases.
• You may need to verify that your debit card transactions were for
eligible health care expenses. If you don’t verify them, your Visa
debit card may be deactivated and/or you may be taxed on the
value of the transaction. For the HSA, there can also be a 20%
penalty from the IRS for ineligible expenses.
• If you receive bank contributions in an HRA for a family member
who is not your tax dependent, you must pay taxes on the amount
of the contribution. This is included in your imputed income
calculation, if applicable.
• If your contribution to an HSA, combined with any bank
contribution to your HSA, exceeds the IRS limit, you will pay taxes
on the amount of the contribution that exceeds the limit.
• California and New Jersey tax employer contributions to HSAs.
New Jersey also taxes employee contributions for HSAs, Health
FSAs and Limited Purpose FSAs.
Health Flexible Spending Account (Health FSA) and Limited Purpose Flexible Spending Account (Limited Purpose FSA) Your account is credited in full on Jan. 1 or the date you become
benefits-eligible. Eligible expenses must be incurred during the
period in which you actively contribute to your Health FSA or Limited
Purpose FSA. An expense is incurred when you actually receive a
service or make a purchase, not when you receive or pay a bill.
Health Savings Account (HSA) Verifying your information
If you enroll in an HSA, the federal government may require you to verify
certain information, such as your name or address, before your HSA can
be opened. If you don’t provide this information, your account won’t be
opened, which may result in forfeiture of any bank contributions.
The contributions you make would be returned during the year.
Who is eligible for coverage under our medical, dental and vision plans? For detailed information about dependent eligibility, refer to the 2016
SPD on HR Connect > Benefits > Health > Medical plans > Resources. If you add a dependent to your coverage for 2018, take
time to verify their eligibility and confirm their personal information.
Benefits eligibilityEmployees who were previously not eligible for benefits and work
30 hours or more per week over a 12-month “look back” period will
be eligible for medical benefits and health care accounts.
ChildrenGenerally, your children are eligible to be covered under our plans
until age 26, regardless of whether they attend school full- or
part-time.
Spouse or partnerGenerally, your spouse or partner is eligible to be covered under
our plans.
The U.S. Treasury and IRS guidance state that all same-sex couples
who are legally married are treated as married for federal tax
purposes, where marriage is a factor, including personal and
dependent exemptions and deductions, IRA contributions, tax credits
and eligibility for coverage under employee benefit plans.
Other adult dependentFor an individual to qualify as your other adult dependent,
he or she must:
• Be under age 65
• Be your dependent for federal income tax purposes. (To qualify
for coverage in a given year, the individual must have been your
tax dependent for the previous tax year and must continue to
be your tax dependent for the current tax year.)
• Live with you and be considered a member of your family
• Not be eligible for, and not have declined or deferred
coverage through the Bank of America employee or retiree
health care program
For information regarding health and insurance coverage for adult
family members, visit My Benefits Resources or call the Global HR
Service Center. If you’re uncertain if an adult family member qualifies
as your eligible dependent, call the Global HR Service Center.
When a dependent loses eligibilityYou have up to 31 calendar days to call the Global HR Service Center
and let us know that one of your dependents should be dropped
from the plan, for example, upon divorce. If your dependent receives
benefits from a plan after the date coverage ends, you’re responsible
for reimbursing the plan for benefits provided during that period.
Changes to your contribution amounts will take effect on the first
day of the month after you notify the Global HR Service Center that
your dependent is no longer eligible.
If your child will turn 26 in 2018 and does not qualify as an adult
dependent (see eligibility criteria above), he or she will automatically
be dropped from your coverage at the end of the last day of his or
her 26th birthday month. (As our plans cover your eligible children
through age 25.)
Important notes about your benefits
2018 Benefits | Important notes 19
Qualified status changeFor details on what’s considered a qualified status change, visit
HR Connect > Benefits > Health > Medical plans > Resources then click on Summary Plan Description (SPD) and Summary of Material Modifications (SMM) and select
the document that applies to you.
Life and disability insuranceAssociate supplemental life insurance Tobacco users pay a higher rate for associate supplemental life
insurance. When enrolling, you can indicate that you are not a
smoker if you have not used any tobacco products in the past
12 months.
When you first become eligible to enroll in supplemental life
insurance (for example, when you’re hired or if you switch from
part-time working less than 20 hours to full- or part-time status
working more than 20 hours), you may elect supplemental coverage
of one, two or three times your eligible compensation, to a
maximum that is less than $500,000, without providing a statement
of health. You must enroll within 31 days of becoming eligible.
If you initially elect supplemental coverage that’s greater than three
times your eligible compensation, or if you elect coverage that is
greater than or equal to $500,000, you must provide a Statement of
Health that’s satisfactory to the insurance company. If a Statement
of Health is required, your increased coverage begins the first of the
month following the date your Statement of Health is approved by
the insurance company. Until a Statement of Health is approved, or
if you fail to provide a Statement of Health when required, coverage
defaults to the highest level that does not require a Statement
of Health.
During future Annual Benefits Enrollment periods or when you have
a qualified status change, you’ll need to provide a Statement of
Health if you:
• Elect supplemental coverage for the first time
• Increase supplemental coverage by more than one level
• Elect supplemental coverage that’s greater than or equal to
$500,000. (This doesn’t apply if your coverage goes above
$500,000 because of a change in salary.)
Dependent life insurance Your per-pay-period costs for spouse or partner dependent life
insurance coverage will be higher if your spouse or partner is a
tobacco user. When enrolling, you can indicate that your spouse or
partner is not a smoker if he or she has not used any tobacco
products in the past 12 months.
When you elect coverage for the first time, and later, if you increase
coverage by more than one level or elect coverage over $50,000,
your spouse or partner must provide a Statement of Health. If a
Statement of Health is required, the increased coverage begins the
first of the month following the date your spouse’s or partner’s
Statement of Health is approved by the insurance company. Until a
Statement of Health is approved, or if your spouse or partner fails to
provide a Statement of Health when required, coverage defaults to
the highest level that does not require a Statement of Health.
Long-term disability insurance (LTD)The amount that you pay for LTD coverage depends on your age, the
level of coverage you elect when you are first eligible, during Annual
Benefits Enrollment or through a qualified status change, and
whether you are a full- or part-time employee.
While satisfying the elimination period for LTD, the amount of STD
benefits you receive will be based on your current compensation.
Benefits paid while on LTD will continue to be based on what your
compensation was during the elimination period and will not take into
account any changes in compensation after LTD benefit payments
begin. If your current compensation pay rate changes while you are
receiving LTD benefit payments or during the LTD elimination period,
your monthly LTD premium will increase accordingly during that time
and your new monthly pay rate will take effect on the date you are
again actively at work.
No benefit is payable for any disability that is caused by or
contributed to by a pre-existing condition and that starts before the
end of the first 12 months following your effective date of coverage.
A disease or injury is a pre-existing condition if during the three
months before your effective date of coverage:
• It was diagnosed or treated
• Services were received for the diagnosis or treatment of
the disease or injury
• You took drugs or medicines prescribed or recommended
by a physician for that condition
If you happen to be ill or injured and away from work on the date
your coverage would take effect, the coverage will not take effect
until the date you return to work to your regular part- or full-time
schedule. You will be considered to be active at work on any of your
scheduled work days if on that day you are performing the regular
duties of your job for the number of hours you are normally
scheduled to work. In addition, you will be considered to be active at
work on the following days:
• Any day which is not one of your employer’s scheduled work days
if you were active at work on the preceding scheduled work day
• A normal vacation day
These pre-existing conditions and actively-at-work provisions also
apply to an increase in your coverage. No benefit is payable for any
disability that is caused by or contributed to by a pre-existing
condition and that starts before the end of the first 12 months
following an increase in coverage. A disease or injury is a pre-
existing condition if during the six months before your effective date
of an increase in coverage:
• It was diagnosed or treated
• Services were received for the diagnosis or treatment of the
disease or injury
• You took drugs or medicines prescribed or recommended by a
physician for that condition
And, if you are not actively at work on the date your coverage
increases, your increased coverage will take effect on the date you
are again actively at work. The maximum monthly benefit, together
with all other income benefits, is $30,000.
Important notes about your benefits
2018 Benefits | Important notes 20
Important notes about your benefits
Imputed incomeThe value of certain benefits is considered imputed income,
which means that you pay taxes on the value of that coverage.
If imputed income affects you, you will see it on the first payroll
statement you receive after electing your benefits or, if later, your
coverage start date. For more information about imputed income,
refer to the 2016 Summary Plan Description (SPD) and subsequent
Summaries of Material Modifications (SMMs) on HR Connect > Benefits > Health > Medical plans > Resources.
• Associate basic life insurance: You will have imputed income if
your company-paid life insurance coverage exceeds $50,000.
• Dependent life insurance: Some participants may have imputed
income on their dependent life insurance coverage (for coverage
of more than $2,000).
• Coverage for a partner: The value of coverage for your partner
and/or your partner’s children who are not your tax dependents
is considered imputed income for purposes of medical, dental,
vision and AD&D insurance, as well as the value of any bank
contributions to your HRA, to the extent you are not paying the
full value of such coverage on a post-tax basis. (If you are
enrolling your partner and/or your partner’s children whom you
can claim as your dependents on your federal income tax return,
you must do so through the Global HR Service Center. If you are
enrolling your partner and/or your partner’s children whom you
cannot claim as your dependents on your federal income tax
return, you may do so through either My Benefits Resources
or the Global HR Service Center.)
Lifetime maximumA lifetime maximum, or the most the plan will pay for benefits,
applies to some medical and dental services. Please check with your
plan’s insurer or claims administrator regarding any benefit limits.
Falsification of information
If you or an enrolled dependent knowingly submit(s) false
information when enrolling in, changing or claiming health and
insurance benefits, or if you fail to notify the Global HR Service
Center that an enrolled dependent is no longer eligible for coverage,
participation for you and your dependents may be immediately,
retroactively and permanently canceled. In addition, the insurance
company may deny coverage. Pending claims may not be paid, and
you must reimburse the plan for any previous claims incurred that
should not have been paid. In addition, you may be asked to provide
proof of dependent eligibility at a future date. The bank reserves the
right to audit your dependent enrollment information at any time.
See page 19 for more information about dependent eligibility.
2018 Benefits | Important notes 21
Important notes about your benefits
Summary of Benefits and Coverage — Availability NoticeAs a result of the Patient Protection and Affordable Care Act, Bank of America is required to provide standardized Summaries of Benefits and Coverage (SBCs). The SBCs summarize, in a standard format, important information about the bank’s health plans. This is another resource to help you compare your plan choices. To take a look at the SBCs, log on to My Benefits Resources and go to Enroll in your benefits > Medical View/Change > Compare Medical Options for the applicable medical option SBC. If you have specific questions about what’s covered, call your medical carrier to ask about coverage for specific health conditions.
For a paper copy, call the Global HR Service Center at 800.556.6044.
When you enroll or continue participation in the Bank of America
plans, you are acknowledging that the benefits you have elected are
subject to the provisions of the Bank of America Group Benefits
Program and the terms and conditions of the benefit plans, and you
are authorizing the bank to withhold from your pay any employee
contributions required for such benefits. You acknowledge that if
you enroll in a plan that provides for binding arbitration of any
controversy between a plan member or beneficiary and a plan,
including, as applicable, its agents, associates, providers and staff
physicians, then any such controversy is subject to binding arbitration.
Important notice from Bank of America about your prescription drug coverage and MedicarePlease read this notice carefully and keep it where you can find it. This
notice has information about your current prescription drug coverage
with Bank of America and about your options under Medicare’s
prescription drug coverage. This information can help you decide
whether or not you want to join a Medicare drug plan. If you are
considering joining, you should compare your current coverage,
including which drugs are covered at what cost, with the coverage
and costs of the plans offering Medicare prescription drug coverage in
your area. Information about where you can get help to make decisions
about your prescription drug coverage is at the end of this notice.
There are two important things you need to know about your
current coverage and Medicare’s prescription drug coverage:
1. Medicare prescription drug coverage became available in 2006
to everyone with Medicare. You can get this coverage if you join
a Medicare Prescription Drug Plan or join a Medicare Advantage
Plan (like an HMO or PPO) that offers prescription drug coverage.
All Medicare drug plans provide at least a standard level of
coverage set by Medicare. Some plans may also offer more
coverage for a higher monthly premium.
2. For 2018, Bank of America has determined that the prescription
drug coverage offered by your Bank of America-sponsored
medical plan is, on average for all plan participants, expected to
pay out as much as standard Medicare prescription drug coverage
pays and is therefore considered Creditable Coverage. Because
your existing coverage is Creditable Coverage, you can keep this
coverage and not pay a higher premium (a penalty) if you later
decide to join a Medicare drug plan.
When can you join a Medicare drug plan?You can join a Medicare drug plan when you first become eligible for
Medicare and each year from Oct. 15 to Dec. 7. However, if you lose
your current creditable prescription drug coverage, through no fault
of your own, you will also be eligible for a two-month Special
Enrollment Period (SEP) to join a Medicare drug plan.
What happens to your current coverage if you decide to join a Medicare drug plan?Medicare-eligible employees and retirees are eligible for coverage
under medical plans that provide prescription drug coverage. Before
you decide whether to enroll in Medicare Part D, (1) carefully compare
the prescription drug benefits offered under the Bank of America plan,
the cost and the drugs covered with the benefits, and the cost and
drugs covered under the Medicare Part D plan; and (2) read below to
understand how your Bank of America medical and prescription drug
coverage will be affected.
• Medicare Advantage Plan: If you enroll in a Medicare Part D
plan, you will be automatically disenrolled from your
Bank of America Medicare Advantage plan and enrolled in another
Bank of America retiree medical plan. Before enrolling in a
Medicare Part D plan, please call the Bank of America Global HR
Service Center at 800.556.6044 for more information.
• Medical Plan other than a Medicare Advantage Plan: If you enroll in a Medicare Part D plan, you will have prescription
drug coverage under two plans. Note that your monthly
contributions for coverage under the Bank of America plan will
not be reduced if you enroll in a Medicare Part D prescription drug
2018 Benefits | Important notes 22
Important notes about your benefits
plan. However, your Bank of America medical coverage will be
coordinated with coverage under the Medicare Part D plan as follows:
– If you are an active employee, your Bank of America plan will
pay primary for prescription drugs covered by Medicare. This
means that if the Bank of America plan’s prescription drug
coverage is less generous than your Medicare Part D plan’s
coverage, your Medicare Part D plan will pay an additional
amount. However, if the Bank of America prescription drug
coverage is just as generous or more generous than the
Medicare Part D plan’s coverage, the Medicare Part D plan will
not provide any additional prescription drug coverage.
– If you are a retiree or a participant in the Bank of America Long-term Disability Plan, your Bank of America prescription
drug coverage will pay secondary for prescription drugs
covered by Medicare. This means that if the Medicare part D
plan’s coverage is less generous than the Bank of America
prescription drug coverage, your Bank of America plan will pay
an additional amount. However, if the Medicare Part D plan is
just as generous or more generous than the Bank of America
plan’s prescription drug coverage, the Bank of America plan will
not provide any additional prescription drug coverage.
If you do decide to join a Medicare Part D plan and drop your Bank of America medical plan coverage, you and your dependents may not be able to re-enroll in Bank of America medical plan coverage at a later time. Before dropping or
declining coverage under a Bank of America medical plan, please call
the Bank of America Global HR Service Center at 800.556.6044 to
learn whether you can re-enroll in Bank of America coverage at a later
date and the conditions for re-enrollment. Note that retirees from
certain predecessor companies or those enrolled in certain retiree
medical plans of predecessor companies may not drop retiree medical
coverage and re-enroll at a later time, and retirees who drop coverage
and are permitted to re-enroll in a Bank of America retiree medical
plan must provide proof of coverage under another medical plan (other
than Medicare) for 12 consecutive months prior to the date they wish
to re-enroll.
When will you pay a higher premium (penalty) to join a Medicare drug plan?You should also know that if you drop or lose your current coverage
with Bank of America and don’t join a Medicare drug plan within
63 continuous days after your current coverage ends, you may pay
a higher premium (a penalty) to join a Medicare drug plan later.
If you go 63 continuous days or longer without creditable
prescription drug coverage, your monthly premium may go up by
at least 1% of the Medicare base beneficiary premium per month
for every month that you did not have that coverage. For example,
if you go 19 months without Creditable Coverage, your premium
may consistently be at least 19% higher than the Medicare base
beneficiary premium. You may have to pay this higher premium (a
penalty) as long as you have Medicare prescription drug coverage. In
addition, you may have to wait until the following October to join.
For more information about this notice or your current prescription
drug coverage, contact the Global HR Service Center at
800.556.6044. Note: You’ll get this notice each year. You will also
get it before the next period you can join a Medicare drug plan, and
if this coverage through Bank of America changes. You may also
request a copy of this notice at any time.
More detailed information about Medicare plans that offer
prescription drug coverage is in the Medicare & You handbook. You’ll
get a copy of the handbook in the mail every year from Medicare.
You may also be contacted directly by Medicare drug plans.
For more information about Medicare prescription drug coverage:
• Visit medicare.gov.
• Call your State Health Insurance Assistance Program
(see the inside back cover of your copy of the Medicare & You
handbook for their telephone number) for personalized help.
• Call 800.MEDICARE (800.633.4227) (TTY: 877.486.2048).
If you have limited income and resources, extra help paying for
Medicare prescription drug coverage is available. For more
information about this extra help, visit socialsecurity.gov or call
800.772.1213 (TTY: 800.325.0778).
Remember: Keep this Creditable Coverage notice. If you decide to
join one of the Medicare drug plans, you may be required to provide
a copy of this notice when you join to show whether or not you have
maintained Creditable Coverage and, therefore, whether or not you
are required to pay a higher premium (a penalty).
Women’s Health and Cancer Rights ActAs required by the Women’s Health and Cancer Rights Act of 1998,
each medical plan provides the following medical and surgical
benefits with respect to a mastectomy:
• Reconstruction of the breast on which the mastectomy has
been performed
• Surgery and reconstruction of the other breast to produce
a symmetrical appearance
• Prostheses and treatment of physical complications of all stages
of the mastectomy, including lymphedema
These services must be provided in a manner determined in
consultation with the attending physician and the patient. This
coverage may be subject to annual deductibles, coinsurance and
copayment provisions applicable to other such medical and surgical
benefits provided under the plans.
Please refer to your Health Plan Comparison Charts available in the
Summary Plan Description for deductibles and copayment information
applicable to the medical plan in which you choose to enroll. The
Summary Plan Description is available on My Benefits Resources or
upon request by calling the Global HR Service Center at
800.556.6044.
2018 Benefits | Important notes 23
Availability of Notice of Privacy PracticesThe Bank of America Group Benefits Program (the “Plan”) maintains
a Notice of Privacy Practices that provides information to individuals
whose protected health information will be used or maintained by
the Plan. The notice was recently updated to direct readers to
contact the Global HR Service Center at the following address:
BANK OF AMERICA GLOBAL HR SERVICE CENTER
P.O. BOX 64046
THE WOODLANDS, TX 77387-4046
If you would like a copy of the Plan’s Notice of Privacy Practices, visit
My Benefits Resources and click Knowledge Center > Plan Information Page > Legal Notices or call the Global HR Service
Center at 800.556.6044.
Marketplace special enrollment windows related to COBRAUnder the Affordable Care Act, you can enroll in a medical plan
through your state’s health care exchange during an open enrollment
period or designated special enrollment periods. A special enrollment
period will be available when you become eligible for COBRA, or
after you are no longer eligible for COBRA. There is no special
enrollment period if you voluntarily end your COBRA coverage.
For more information about specific enrollment rules or plans
offered through health care exchanges, please visit healthcare.gov
or call 800.318.2596 (TTY: 855.889.4325).
Fully insured medical plansAetna International, Kaiser Permanente, HMSA Hawaii and Triple-S
Salud medical plans may have other changes in coverage for 2018.
Please contact these carriers with any questions.
DisclaimerThis document provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle
you to benefits offered by Bank of America.
Every effort has been made to ensure the accuracy of the contents of this document. However, if there are discrepancies between
this document and the legal documents governing a plan or program (i.e., “plan documents”), the plan documents will always govern.
Bank of America retains the discretion to interpret the terms or language used in this document. Bank of America also reserves the
right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
For convenience, we use the name Bank of America in this document because it is used at companies with different names within the
Bank of America Corporation family of companies. However, use of the terms “Bank of America” or “bank” does not mean that you are
employed by Bank of America Corporation; you are employed by the entity that directly pays your wages.
2018 Benefits | Important notes 24
Important notes about your benefits
Medical plans
Aetnaaetna.com/bankofamerica
877.444.1012
Anthemanthem.com/bankofamerica
844.412.2976
Kaiser Permanentekp.org
Please refer to the number on
the back of your ID Card.
UnitedHealthcarewelcometouhc.com/findmydoc
877.240.4075
Prescription coverage
CVS Healthcaremark.com
800.701.5833
TTY: 800.231.4403
Dental
Aetna*aetna.com/bankofamerica
877.444.1012
MetLifemetlife.com/mybenefits
888.245.2920
Vision
Aetnaaetna.com/bankofamerica
877.444.1012
VSPvsp.com/bankofamerica
877.814.8967
Health care and dependent care accounts
Health Benefit Solutionsmyhealth.bankofamerica.com
866.791.0254
Prepaid legal
Hyatt Legal Plansinfo.legalplans.com/bofa
800.821.6400
Additional questions
Benefits Education & Planning Center866.777.8187
Global HR Service Centermybenefitsresources. bankofamerica.com
800.556.6044
Contact information for other programs
can be found on HR Connect and on
Employee Resources at Home bankofamerica.com/employee
*Aetna DMO is only available in select markets.
Bank of America, N.A. Member FDIC © 2018 Bank of America Corporation. Equal Housing Lender. 03/2018 | AR3MVYQK | BRO-03-18-0453.A2
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